Bestor's findings have percolated into Ting's stump speech about the iniquities of Prop. 13 — he brought up the Trader Joe's to SF Weekly spontaneously. Ting has met with Bestor at least four times, last year handing her the city's "Land and Improvements" list to pore over.

This data breaks down the percentage of the city's property tax revenue based on the year the real estate was last assessed. Like other municipalities Bestor has researched, San Francisco's is not a pretty picture. Going back to 1995 — older transactions aren't included in the city's database — 53 percent of property has been reassessed. Yet these recent buyers pay 78 percent of the city's overall property tax. Among single-family residential properties, 57 percent of homeowners are paying 81 percent of the taxes. Most San Franciscans are, literally, not getting their money's worth. The winners under Prop. 13, Bestor notes, are "heirs and legacy corporations. We're creating trickle-up wealth."

We're also not going to do much about it. Critics of Prop. 13 like to complain it's been deified by spineless politicians — but We the People like it, too. A September Field Poll revealed 63 percent of state voters would pass Prop. 13 today. Fifty percent of those polled would even oppose raising the tax rate on business and commercial property — down from 68 percent in 1980. Meanwhile, it would require a two-thirds vote in the Legislature to close loopholes regarding corporate "change of control." Good luck with that.

Years of litigation in the One Market Plaza case, triggered by Wayne Lesser, earned the city $23 million. Lesser got nothing.
Michael Short
Years of litigation in the One Market Plaza case, triggered by Wayne Lesser, earned the city $23 million. Lesser got nothing.
One Market Plaza remains the only
commercial property in the state in which a concealed change of ownership resulted in fraud penalties.
Michael Short
One Market Plaza remains the only commercial property in the state in which a concealed change of ownership resulted in fraud penalties.

In today's fiscal and political landscape, it seems the will is not there to undertake the labor-intensive, proactive steps required to snare the next One Market Plaza — even before crossing swords with ace corporate lawyers. Provided they set aside a little cheddar for the disgruntled sandwich-makers, don't expect to be reading about the next fat cats busted for concealing a change of ownership anytime soon.

E-mail Joe.Eskenazi@SFWeekly.com

« Previous Page
 |
 
1
 
2
 
3
 
4
 
5
 
All
 
My Voice Nation Help
10 comments
Roland Shield
Roland Shield

Mr. Eskenazi, Your article is well-researched and informative to say the least. And I feel that I am reasonably informed enough to make this assessment (no pun intended). I am a former employee of the California Wildlife Conservation Board and I saw these sort of shenanigans being orchestrated for "conservation" properties for nearly 5 years before I was drummed out as a would-be whistleblower. The only success I has was getting California Watch to post a fairly weak article that only vaguely scratched the surface of this phenomenon [ ref. http://californiawatch.org/env... ] . Let me be clear here: there are hundreds of transactions representing hundreds of millions of dollars in unreported assessed and collected taxes across California every year. And yes, many of the "hogs" are in places such as Sonoma and Napa Counties, but they are everywhere to be sure.

VivlianWozz
VivlianWozz

I am a 27 years old doctor,mature and beautiful. and now i am seeking a good man who can give me real love, so i got a sername Andromeda2002 on Agedate.СòM, a nice and free place for younger women and older men,or older women and younger men, to interact with each other.Maybe you wanna check out or tell your friends.

Lucia Jobs
Lucia Jobs

Tall big people Dating Site---【TallConnect.C○m】---we've made it the largest

tall people dating site. Find someone who is tall, sexy, loving, caring, and good

looking. No joke. We've got plenty of tall people here. Join and browse for FREE.

VivlianWozz
VivlianWozz

Another restaurant cliaimed to use fresh mozz arella cheese,where it's dishes were actually made with economy cheddar.the "fresh pasta"advertieshed on another meau tumed out to be frozen.--Agedate. ℃⊙M--a nice and free place for younger women and older men,or older women and younger men,to interact with each other.

Teotwawki Jones
Teotwawki Jones

Actually, property taxes are raised annually and tied to inflation. In the 12 years I've been in my home, my taxes have gone up about 25%. By the time I pay off the mortgage, they will have almost doubled.

Joe Eskenazi
Joe Eskenazi

Sir --

In California, there is a cap on how much property taxes can be raised: 2 percent per year. Also, if your tax base is higher than the value of the home, you are entitled, via Proposition 8, to apply to the assessor for a downward reassessment every year.

Best,

JE

Partyisover
Partyisover

Why are we allowing our adult children, who were born and raised in California, to pay for the selfish-sins of their grandparents? When their grandparents were young, they bought homes all over California at dirt cheap prices with low-low interest rates. Yet, when they were given the opportunity to pay-it-forward, they instead decided to keep everything for themselves.

Dear old Granpa and Granma voted for Prop 13 which keeps their property taxes at the 1978 tax rate, that was back in the good old days, when a gallon Gas was only 63 cents.

Briansays
Briansays

the lesson here ispeople think government is corrupt, wasteful, incompetant and always looking to expand the social welfare stateergo they hate it more than they do the rich and greedy in the private sector

Dreamer
Dreamer

In a perfect world, Mean Greedy People and Mean Gun Slinging People would cancel-out each other (two equally gruesome entities neutralize each others power)

 
San Francisco Concert Tickets
©2014 SF Weekly, LP, All rights reserved.
Loading...